Swarajgar Credit Card

The Scheme shall cover general credit needs of existing customers of all Branches.

2.

Objectives

To provide hassle free credit to our bank customers based on the assessment of cash flow without insisting on security, purpose or end use of the credit.

3.

Eligible Beneficiaries

All our customers either with more than 3 years of banking history with the branch / having sizable deposit or with loan accounts which are classifies as standard assets will be eligible for availing loan under the scheme.

4.

Nature of financial accommodation – cash withdrawal

The credit card facility extended under the scheme will be in the nature of revolving credit(cash credit).

The CGRCC-holder will be entitled to draw cash from the issuing branch of bank only

5.

Quantum of limit

Quantum of limit will be based on the assessment of income and cash flow of the entire household

However, the total credit facility under CGRCC for an individual shall not exceed 20% of the eligible production loan limit in case of persons cultivating land and / or 20% of annual income of the applicant from known sources or Rs.25,000/- whichever is less.

6.

Security

No collateral security should be insisted upon

7.

Guarantee

Guarantee from a suitable third party may consider

8.

Flexibility in use of credit

The borrowers would be eligible for availment of the credit facilities provided under CGRCC, as per their requirement

The branch shall not insist any security and the purpose or end-use of the credit